During the session on Thursday, we have a couple of announcements that will be worth paying attention to, but ultimately we feel that a lot of the effects of those announcements could be tempered due to the Friday session featuring the jobs number out of America. One of the first things we can pay attention to is the Official Bank Rate out of the United Kingdom. Although it is not anticipated to change, the reality is there is always the possibility of a surprise. The Unemployment Claims number out of the United States could move the US stock markets, but with the Friday jobs number coming out it’s likely it will only be minor in its effects. Finally, the Reserve Bank of Australia releases it’s Monetary Policy Statement, and that of course gives us an idea of how the Australians feel that the global markets.

Ultimately, we believe that the precious metals markets are going to continue to fall, as they certainly look very vulnerable again. With this, we believe that the US dollar is ready to strengthen, and with that it should be more or less a self-fulfilling prophecy when it comes to gold and silver.

Ultimately, we believe that the stock markets in America will continue to go higher on the longer-term charts, so we are looking for support and impulsive candles to the upside to serve buying calls. We have no interest in trying to work against the value of the Nasdaq 100 (QQQ), S&P 500 (SPY), or the Dow Jones 30 (DIA).

European indices in general look like there are buyers returning over the longer haul, but we need to see supportive candles in order to get involved to the upside. We have no interest in buying puts at all.